Attention Fast Draft users! Any changes made to the contacts in your Address Books on Sunday 11 December will not be saved. The contents of your Address Books will be available as usual when the new Fast Draft is live on Monday 12 December.

An overview of the employment income tax, National Insurance contributions and capital gains tax implications for individuals of acquiring and receiving payments of carried interest in private equity funds.

Private equity-backed transactions cover a variety of arrangements from early funding (venture capital), management buyouts and buy-ins to secondary buyouts. This note provides an overview of the main tax issues that arise in each of these transactions. It also provides links to resources on the taxation of private equity funds and executives.

A quick guide to the way termination payments are taxed. For the changes that are due to take effect from 6 April 2018, see Practice note, Taxation of termination payments: Reform of termination payments from April 2018.This is one of a series of quick guides, see Quick guides.

A note on employee shareholders, a type of employment status that came into force on 1 September 2013. The tax reliefs associated with employee shareholder status ceased to be available on 1 December 2016, and the government has announced that it will be changing the law so that it is not possible to become an employee shareholder. However, existing arrangements will remain in place.We are reviewing this practice note in the light of the Finance Bill 2016 receiving Royal Assent on 15 September 2016.

This note sets out the main tax and company law considerations for a private company giving shares to an employee. These include whether the company can issue shares to employees, alternative ways of sourcing shares and the income tax and NICs consequences of providing shares for free.

This note is a general summary of the principles underpinning UK income tax. It describes what income is and how it is taxed. It also provides links to notes describing other aspects of the UK income tax rules, such as calculation of income and exemptions from income tax.We are reviewing this practice note in the light of the Finance Bill 2016 receiving Royal Assent on 15 September 2016.

A note examining the operation of the IR35 legislation, which was introduced to crack down on a particular form of perceived tax avoidance whereby individuals would seek to avoid paying employee income tax and national insurance contributions by supplying their services through an intermediary and paying themselves in dividends.

An overview of the tax issues involved in making and writing off loans to employees and directors. The note includes an overview of the notional loans regime and the key legal issues to consider.NOTE: This resource is being reviewed in light of the 2016 Autumn Statement. For more information, see Legal update, 2016 Autumn Statement: key business tax announcements.

This practice note deals with aspects of the UK tax treatment of employment-related securities and securities options acquired by employees and directors who are UK resident, but not domiciled, in the UK.We are updating this resource in the light of the further consultation document on reforms to the taxation of non-UK domiciled individuals published by HMRC on 18 August. To follow progress of this development see Private client tax legislation tracker 2015-16: Permanent non domiciled tax status abolished, IHT: UK Property owned indirectly, Remittance basis: de minimis exemption, Remittance basis: business investment relief.

An overview of pay as you earn (PAYE) so far as it applies to employment income dealing, in particular, with the PAYE treatment of cash and notional payments (including the penal tax charge that can arise if an employee fails to make good a tax liability arising on notional payments) whether made during employment or on or after termination. The note also discusses the collection of under-deducted tax and NICs, interest and penalties and real time information (RTI) reporting.

This practice note is a guide to the use of salary and bonus sacrifice arrangements.NOTE: This resource is being reviewed in light of the 2016 Autumn Statement. For more information, see Legal update, 2016 Autumn Statement: key business tax announcements.

A summary of the tax changes for high earners introduced since 6 April 2009 and those which the coalition government proposes will take effect from 6 April 2011, together with examples to illustrate what the changes will mean in practice.

This practice note provides tax data and tables for the current tax year, previous tax years and (where information has been announced in advance) future tax years in relation to the bank levy, capital allowances, capital gains tax, corporation tax, income tax, stamp duty, SDRT, SDLT and VAT.

The tax implications of a settlement may be a determinative factor when considering whether to accept or make an offer. This note considers when awards of damages will be subject to tax as income or as chargeable gains and the tax treatment of the payment of damages.

This note provides an overview of the income tax and national insurance contributions treatment of the receipt of employment income. It discusses key concepts such as the scope of the charge to tax on employment income, employment status, the receipts basis and residence. It also provides an overview of national insurance contributions including the legislative framework.

Cookie Policy

We use cookies to give you the best experience on our website. By continuing to browse the site, you are agreeing to our use of cookies. You can change your cookie settings at any time but if you do, you may lose some functionality on our website. More information can be found in our Privacy Policy and Cookies.